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The first thing that student needs to learn before making international energy law assignment is the definition of international energy law and that is given below.
The energy industry has been one of the most dominant industries in the twentieth century, since the start of the industrial revolution in Europe the need and demand for energy has been constantly increasing and will continue to rise in the near future also. International energy law aims to collaborate the concept of public International law with energy. With the energy market becoming more and more global it is important to ensure that there is equitable distribution of energy and harmonized settlement of disputes.
There is an increased need for energy law in the energy industry due to the development of structured markets. A power purchase is also called an electricity power agreement, it is a contract between the generating company and power purchaser.
Oil and gas industry has a broad range of sectors starting with the upstream which deals with exploration and production to midstream and downstream which deals with transportation and distribution of oil and gas. The structure and operation of the industry are governed by various regulatory bodies and policy frameworks.
Nuclear is energy is one of the most significant yet sensitive developments to our time. It can produce huge amounts of energy without causing an adverse effect on the environment but can cause grave destructions, as well as regular monitoring of such nuclear plants, is done through a strictly established set of regulations and legal framework
Renewable energy is a fast-growing sector it is also the need of the hour to preserve the environment, also the depleting conventional sources of energy have led to the switch from conventional sources to renewable sources. Since it is a fast-growing and emerging sector various policies and regulations are needed to aid the switch.
The energy sector is a global sector it cannot be limited to one country as not every nation is equipped with sufficient raw materials or natural resources required to produce electricity and sometimes some countries even lack in infrastructure to produce electricity. This leads to multi-national production, transportation, and distribution of electricity. Disputes arising out of such dealings are generally solved through international arbitration.
Not all players hold the same position in the International market some players hold a dominant position due to the availability of raw materials, technology, and natural resources. One of the main aims of International Energy Laws is to prevent these Dominant players to misuse their position and cause an appreciable adverse effect on the market.
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